AIG unfettered greed.

AIG single-handedly created this financial catastrophe. How is it possible that a Single company has that "supreme" power to create this financial calamity? The Answer is simple, unfettered greed.

The very idea that you can speculate on loans it just amazing how creative the Wall Street is when it tries to con the main street. Hell, if anyone can speculate on crude oil which created the recent gas price crisis we have just experienced not long ago.and other commodities that affect our daily live.

Every thing can be traded on wall street, from raw material to food items, from our daily sundries to odd sundries. They are the people that determine our cost of living. The higher the inflation the better they are. Think about it, inflation mean " A persistent increase in the level of consumer prices or a persistent decline in the purchasing power of money, caused by an increase in available currency and credit beyond the proportion of available goods and services." If you put that in plain terms like that, no wonder modest inflation is good for the entire economy and hence the deflation is bad for us, because we are dependent on the economy.

In Short if there is a deflation, the money in the pot of Wall Street shrinks, and it ain't good for the investors. They are not involve in production of anything but the exploitation of the production. In my opinion, they are the invisible middle man; parallel to the invisible hand of Adam Smith, that we can do without. The initial idea of trading commodities is noble but as like every trade, greed creeps into the equation and ruin everything. Much like the government of a small little island off Malaysia.

Speculation is driven by greed. One good and common example demonstrated is by the housing market. When the housing market was good, everyone, when I say everyone, I mean the stupid people who buy anything when everyone else is buying, hence inflating the price, those stupids bought more; but when speculation bites back, we have seen it so many time the collapse of the housing market in the last few decades, many were force to bankrupt. Are people so blinded by their greed that they can not foresee by examples?

I have to sympathy for those who committed suicide in the pass few months neither do I have sympathy for the bankrupt individual who foreclose their very own home that they owned before the credit crunch. They deserve all the turmoil they created for they are also the people who spoil the market for the people who deserve the house and can not afford it due to the speculation.